Electronic Arts (NASDAQ:EA) Price Target Raised to $163.00

Electronic Arts (NASDAQ:EA) had its target price hoisted by Benchmark from $153.00 to $163.00 in a report issued on Wednesday morning, Benzinga reports. Benchmark currently has a buy rating on the game software company’s stock.

A number of other equities research analysts also recently issued reports on EA. Roth Mkm increased their price objective on Electronic Arts from $135.00 to $152.00 and gave the stock a neutral rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price target on Electronic Arts from $153.00 to $150.00 and set a hold rating on the stock in a research report on Thursday, May 9th. The Goldman Sachs Group raised their price target on Electronic Arts from $139.00 to $150.00 and gave the company a neutral rating in a research report on Wednesday. Wedbush raised their price target on Electronic Arts from $162.00 to $170.00 and gave the company an outperform rating in a research report on Wednesday. Finally, Morgan Stanley raised their price target on Electronic Arts from $140.00 to $150.00 and gave the company an equal weight rating in a research report on Tuesday, July 23rd. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Electronic Arts presently has an average rating of Moderate Buy and a consensus price target of $160.16.

Electronic Arts Trading Up 0.3 %

Shares of EA stock opened at $148.83 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.45. Electronic Arts has a 52-week low of $117.47 and a 52-week high of $153.51. The company has a market capitalization of $39.55 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. The business’s fifty day moving average is $140.16 and its 200 day moving average is $135.97.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, May 7th. The game software company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities research analysts anticipate that Electronic Arts will post 5.76 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. Electronic Arts’s payout ratio is presently 16.24%.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $142.42, for a total value of $356,050.00. Following the sale, the chief executive officer now directly owns 59,247 shares of the company’s stock, valued at $8,437,957.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Electronic Arts news, CAO Eric Charles Kelly sold 3,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $133.75, for a total transaction of $401,250.00. Following the sale, the chief accounting officer now directly owns 7,458 shares of the company’s stock, valued at approximately $997,507.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $142.42, for a total value of $356,050.00. Following the sale, the chief executive officer now directly owns 59,247 shares in the company, valued at $8,437,957.74. The disclosure for this sale can be found here. Insiders have sold 23,239 shares of company stock valued at $3,197,469 over the last ninety days. 0.22% of the stock is owned by insiders.

Institutional Trading of Electronic Arts

Several large investors have recently bought and sold shares of EA. Vanguard Group Inc. boosted its position in Electronic Arts by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after acquiring an additional 3,727,251 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Electronic Arts by 496.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock valued at $333,169,000 after purchasing an additional 2,090,504 shares during the last quarter. Norges Bank purchased a new position in shares of Electronic Arts during the fourth quarter valued at approximately $281,054,000. Swedbank AB purchased a new position in shares of Electronic Arts during the first quarter valued at approximately $201,935,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Electronic Arts during the first quarter valued at approximately $189,055,000. 90.23% of the stock is owned by institutional investors.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.